The business still continues to be driven by Paints sector. Nifty FMCG has done really well in the past 1.5 year. But Moldtek Profits as well as market cap have moved sideways. I wouldn’t call it a FMCG play, we might find better direct opportunities there.
Certainly bullish on Pharma packaging business though, given 1st stage of production started from December onwards.
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